The Power of a Vacuum

Power Janet Yellen wielded as U.S. Federal Reserve Chair suppressed other Governors and bank Presidents to secure Joe Biden’s nomination for Treasury Secretary, and her vacuum caused a lack of control leading to Americans’ 41-year-high inflation rate in 2021.

Yellen worked in the Federal Reserve System from June 14th, 2004 when she served as President of the San Francisco Bank to 2018. She was appointed to its 7-member Board of Governors by U.S. President Bill Clinton in 1994 to a full 14-year term. And Janet Yellen served as Fed Chair from 2014-2018. Her policy was to keep the economy growing as much as possible without increasing inflation. Praised by Clinton as “one of the most prominent economists of her generation on the intersection of macroeconomics and labor markets,” when unemployment dropped in 1996 Yellen used academic connections at Berkley to advance a study claiming 2% inflation balances unemployment and growth better than a zero inflation goal.

Policies Janet Yellen was appointed to The Federal Reserve Board of Governors for in 1994 meant near zero percent interest rates for prolonged periods.

Although the gospel of 2% inflation is credited to New Zealand as early as 1990[1] and Janet Yellen left The Fed in 1997 to join the Council of Economic Advisors before returning in 2004, USD inflation remained at or below 2% for Yellen’s entire tenure as Fed Chair except for about 2017 when she promptly lowered it in April of that year. Under her predecessor Ben Bernanke, inflation went over 2% six times and remained above the target for a total of 40 months!